Fitch rates Sri Lanka’s USD Bond ‘B+(EXP)’

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July 14, 2016 (LBO) – Fitch Ratings has assigned Sri Lanka’s upcoming US dollar-denominated bonds an expected rating of ‘B+(EXP)’.

The ratings agency said the expected rating is in line with Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) of ‘B+’ with a Negative Outlook.

“The rating would be sensitive to any changes in Sri Lanka’s Long-Term Foreign-Currency IDR,” Fitch Ratings said.

“In February 2016, Fitch downgraded Sri Lanka’s Long-Term Foreign-Currency IDR and Local-Currency IDR to ‘B+’ with a Negative Outlook.”